Compliance

A group of large banks is using its considerable size and influence to build standards for trade finance, including agreements on payments processes, documentation and risk—giving the consortium its own ecosystem to counter the myriad forces in technology and e-commerce that threaten to upend traditional practices.

The assessment is designed to get banks on the same page in combating cybersecurity and make it easier for institutions and regulators to assess their performance.

Policymakers have called for streamlined disclosures for customers granting third parties access to their financial account data. They don’t have to look far for a potential solution.

In the U.S., most banks and retailers seemed to have given up on contactless cards with the 2011 demise of the much-publicized Chase Blink brand. But the payment format is making a strong comeback in 2018.

The credit union service organization has added 20 new owners this year and has reached its maximum number of shareholders.

The hacks keep coming — most recently to Facebook and the federal government’s health insurance sites — and consumer trust in online security systems disintegrates along with them, according to a number of recent surveys.

For hackers, ATMs serve as “welcome mats” for company networks where much customer information is stored, writes Eric Crabtree, vice president and global head of financial services for Unisys.

Executives can't adequately protect members if they aren't familiar with current auditing standards.

“We have actually discouraged banks from innovating,” FDIC Chairman Jelena McWilliams said in announcing a move that other agencies have made.

American Express Co. said the U.S. Department of Justice and several regulators have sought information on its foreign-exchange international payments business.